Institute For Studies On Latin American Art (ISLAA) Leases Retail Space At 140 Franklin Street In Tribeca
140 Franklin St, New York, NY 10013, USA
Building Size
8,650 SF
Asset Type
Retail
Closing
Nov 21, 2022
AI
The retail space at 140 Franklin Street in Tribeca has been leased. The property, spanning 8,650 square feet, was leased by the Institute for Studies on Latin American Art (ISLAA). The lease transaction was facilitated by the landlord's representatives, Christina Combias and Sam Akleh of Voro, and the tenant's representatives, Allie Portera and Brad Cohen of CBRE. The asking rent for the space was $58 per square foot.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: N/A (lease transaction)
- Address: 140 Franklin Street
- Market: Tribeca
- Landlord: Lily Realty - Tate Jackson
- Tenant: Institute for Studies on Latin American Art (ISLAA)
- Landlord's Rep: Christina Combias & Sam Akleh - Voro
- Tenant's Rep: Allie Portera & Brad Cohen - CBRE
- Asking Rent: $58/ft.
- Square Footage: 8,650
The leasing of the retail space at 140 Franklin Street was successfully negotiated by Christina Combias and Sam Akleh of Voro, who represented the landlord, Lily Realty - Tate Jackson. On the tenant side, Allie Portera and Brad Cohen of CBRE acted as the representatives for the Institute for Studies on Latin American Art (ISLAA). This transaction provides ISLAA with a prime location in the Tribeca market to establish their presence.
Players
New York Retail Market Snapshot
Boundary boundary · Retail · Lease transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93